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Contact:            Jennifer A. Galloway, Chief Communications Officer
                        (703) 797-6600
                        jgalloway@msrb.org


MUNICIPAL SECURITIES RULEMAKING BOARD PUBLISHES REPORT
ON EARLY ISSUANCE OF BUILD AMERICA BONDS
Document Provides Overview of Municipalities Use of New Bonds

Alexandria, VA - The Municipal Securities Rulemaking Board (MSRB) today published a report that reviews issuance and trading activity for the new Build America Bonds, which provide state and local governments with a new method of financing public projects with a federal subsidy.   Municipalities around the country began issuing Build America Bonds in April 2009 after Congress enacted the American Recovery and Reinvestment Act of 2009.

The MSRB's Build America Bonds: Issuance and Trade Activity report identifies which municipalities have taken advantage of the lower borrowing costs made possible by the program and reviews their trading activity.  Issuance and trade data for Build America Bonds are all publicly available on the MSRB's Electronic Municipal Market Access (EMMA) website at www.emma.msrb.org.

The MSRB will soon publish its 2008 Fact Book, a comprehensive reference for trade data and statistics about the municipal bond market.  The MSRB 2008 Fact Book will provide for the first time a compilation of key municipal market statistics unavailable elsewhere, with data on more than 10 million trades made in the last year.

 

The Municipal Securities Rulemaking Board (MSRB) protects and strengthens the municipal bond market, enabling access to capital, economic growth, and societal progress in tens of thousands of communities across the country. MSRB fulfills this mission by creating trust in our market through informed regulation of dealers and municipal advisors that protects investors, issuers and the public interest; building technology systems that power our market and provide transparency for issuers, institutions, and the investing public; and serving as the steward of market data that empowers better decisions and fuels innovation for the future. MSRB is a self-regulatory organization governed by a board of directors that has a majority of public members, in addition to representatives of regulated entities. MSRB is overseen by the Securities and Exchange Commission and Congress.

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